Vietnam’s exports rose 6.5% to US$14.35 billion in April 2016 year-on-year, according to trade statistics from Vietnam Customs.
The total external merchandise turnover of Vietnam for the month amounted to $28.42 billion, up 7.2% compared to a year ago. There was a $277 million surplus in Vietnam’s trade balance for this month.
The increase in exports was due to the hike in shipments of all but one of the top 10 export commodities, led by telephones, mobile phones and parts; machine, equipment, tools and instruments; handbags, purses, suitcases, headgear, and umbrellas; and coffee.
In the first four months of the year, total merchandise export value rose 6.5% to $53.10 billion year-on-year. Trade in goods totaled $104.45 billion in value terms, 2.5% above the corresponding period of 2015. Vietnam’s trade balance in the first four months of 2016 was in the surplus of $1.76 billion.
The commodities that pushed up export value in the first four months of 2016 as compared to the same period in 2015 were telephones, mobile phones and parts; textiles and garments; and machines, equipment, tools and instruments.
Manufacturing sector absorbed bulk of FDIs
In related news, the Southeast Asian country’s manufacturing and processing industry took in foreign direct investments (FDIs) estimated at more than $6.6 billion over the past five months this year, accounting for 65.1% of the overall FDI inflow.
Information communication and the real estate sectors occupied the second and third positions with $1.3 billion and $542.8 million, making up 12.8% and 5.4% of the total, respectively, according to a report by VGP News.
As of May 20, the country attracted as many as 907 new projects worth $7.5 billion, up 53.2% in quantity and up 155.9% in capital compared to the same period last year.
In addition, 425 projects raised an investment capital of $2.59 billion, sending the total newly registered and additional capital in five months to more than $10.1 billion, up 136.4%.
In the reviewed period, disbursed FDI volume reached $5.8 billion, up 17.2%.
Hanoi was the biggest FDI recipient with $1.8 billion, accounting for 24.6%, followed by Hai Phong with $1.6 billion, and Binh Duong with $570.2 million.
South Korea ranked first on the list of Vietnam’s biggest FDI contributors with more than $2.8 billion, accounting for 38.2%, followed by Luxembourg with $1.2 billion, and Singapore with $686.9 million.
Malaysian exports up
On the other hand, Malaysia’s exports rose by 1.6% to MYR61.35 billion (US$14.80 billion) in April 2016 compared with April 2015, supported by higher exports to ASEAN, United States, and Taiwan, according to the Ministry of International Trade and Industry (MITI).
Total trade in April was recorded at MYR113.64 billion compared with MYR113.9 billion in April 2015. The nation’s trade surplus increased by 31.9% to MYR9.06 billion compared to MYR6.87 billion year-on-year, marking the 222nd consecutive month of trade surplus since November 1997.
In the first four months of 2016, exports expanded to MYR246.51 billion, an increase of 1.2%. Aggregate trade value reached MYR460.02 billion compared with MYR459.04 billion recorded during the same period of last year. The trade surplus registered a double-digit growth of 17% to reach a value of MYR32.99 billion during the period.
Exports of manufactured goods from January to April this year increased by 6% to MYR203.47 billion compared to the preceding year. Higher exports were recorded for all manufactured subsectors except for petroleum products, iron and steel products as well as non-metallic mineral products. Exports of agricultural goods recorded a value of MYR20.47 billion, an increase of 6.7%. Exports of mining goods decreased by 31.6% to MYR21.16 billion, said MITI.
Photo: Diego Delso
